According to Justin Singletary, Savannah real estate investor, not all home renovations are good for your home; some renovations will improve the value of your home, while some will not.
Many homeowners are considering remodeling their homes, and here are some interesting statistics on the prospects of home improvements this year:
- According to recent data from Zillow, 52 percent of homeowners plan to make a home improvement this fall
- Homes with children are significantly more likely to plan home improvements, compared to homes without children
- More than one-third of homeowners find inspiration for home improvement online
- Homeowners are planning to spend an estimated $114,000 on home improvement projects this year
Considering the fact that a lot of home owners will be making home improvements this year, real estate expert Justin Singletary believes it is critical that homeowners know exactly the kind of home improvements they should make to improve the value of their homes.
Justin Singletary on Home Improvements You Shouldn't Make
If you think any home improvement you make will ultimately boost the value of your home, think again. According to Justin Singletary, some home improvements will only be a waste of money; while they might look good on paper, they would actually contribute little or nothing to the overall value of your home.
Here are some home improvements you should avoid if possible:
1. Don't Add a Swimming Pool: If you're looking to increase the value of your home when you sell it, adding a swimming pool won't necessarily increase its value.
According to Justin Singletary, a swimming pool doesn't necessarily make your house worth more; many families don't want to be bothered with maintaining a swimming pool, and, instead of making it more valuable, adding a swimming pool might make it much harder to sell your home.
2. Don't Convert Your Bedroom: If your main aim is to improve the market value of your home, then it is important to realize that converting a bedroom to a wine cellar, a library, or a type of hobby-specific room won't necessarily increase its value.
3. Don't Redo the Garage: Home improvements like redoing your garage can be very costly, and Justin Singletary says it is important to realize that home improvements like this won't necessarily up the value of your home. Most families won't share the same interests as you, so while you might find this valuable, it won't necessarily improve the value of your home.
Should You Avoid Making these Home Improvements?
Not necessarily. We all have different tastes and preferences, and Jerry Singletary isn't suggesting that you should ignore the above home improvements, or that there is a one-size-fits-all approach for everything. Instead, he is trying to help you realize that these home improvements won't necessarily increase the value of your home.
Jerry Singletary on Home Improvements You Should Make
Now that we know the improvements you shouldn't make, what improvements can you make to increase the value of your home? Here are some:
1. Kitchen Renovations: Justin Singletary believes renovating your kitchen should be on top of your list when considering a home improvement; most experts also agree with this, since the kitchen is a part of the home where most families spend their time.
2. Redo Your Bathroom: There is value in redoing your bathroom; you can remove and replace old or malfunctioning toilets, or you can reglaze your tube; renovating your bathroom will surely improve the value of your home.
3. Consider Adding a Sprinkler System: Many home owners don't want to bother with maintaining a garden, or taking care of the trees, bushes, or flowers you plant. Many families love seeing green grass around their homes, though, so Justin Singletary suggests adding an automatic sprinkler system to your home because this will be appealing to most families, thereby increasing the value of your home.